What is the role of trade agreements in international relations? 🔊
Trade agreements play a crucial role in international relations by regulating economic interactions and fostering cooperation among nations. By removing tariff barriers and establishing rules for trade, these agreements can enhance economic growth, strengthen diplomatic ties, and promote stability in international markets. They often serve as platforms for broader negotiations, influencing political relationships and addressing key global issues such as labor standards and environmental protections. In essence, trade agreements not only impact economic metrics but also reflect a country’s foreign policy ambitions, signaling commitment to regional partnerships and global integration.
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